ETC Group adds Avalanche, Cosmos and Polygon ETCs on the SIX Swiss Exchange
- The new crypto-backed assets offer fresh investment opportunities for European investors.
- Marketed by HANetf, the AVAXetc, ATOMetc and MATICetc will be available in CHF, USD, GBP and EUR.
- The three crypto ETCs will list on the SIX Echange and Germany’s Xetra.
ETC Group has announced three new exchange-traded cryptocurrencies (ETCs), bringing new investments to its European clients.
According to a press release shared with Invezz on Friday, the new products are Avalanche (AVAX), Cosmos (ATOM) and Polygon (MATIC).
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The three products join ETC Group’s existing portfolio of exchange-traded crypto products, which include Bitcoin, Ethereum, Litecoin, Cardano, Solana, and Polkadot.
Specifically, there is the ETC Group Physical Avalanche (AVAXetc) which will trade under the ticker AVAL. The second product is the ETC Group Physical Cosmos (ATOMetc), while the third offering is the ETC Group Physical Polygon (MATICetc).
The Cosmos and Polygon ETCs will trade under the ticker symbols ATME and MTCE respectively.
HANetf will market and distribute the new ETCs
HANetf, which has partnered with ETC Group on other investment releases, will market the new ETCs, according to the press release. The distribution will see European investors access the products in Swiss franc (CHF), the euro (EUR), US dollar (USD), and the UK Sterling pound (GBP).
ETC Group, which is Europe’s leading provider of crypto-backed exchange-traded investment assets for institutional investors, will list the three ETCs on Switzerland’s SIX exchange. ETC Group will also list the new digital asset products on Germany’s Xetra exchange.
The provider expects the listing to happen at the start of April, it said in the announcement.
Benefits of ETCs
Bradley Duke, Founder and co-CEO of ETC Group said bringing the new products to the market is a result of demand around “newer innovative cryptocurrencies.”
The addition of these new ETCs offers these investors high quality, physically-backed digital assets, underpinned by our partnerships with world-class liquidity providers to deliver high liquidity and tight trading spreads.
Crypto ETCs allow benefits such as ease-of-use, institutional-grade custody and 100% physically backed redemption. Customers can invest via their regular brokers and trade knowing that the underlying assets are secured by regulated custodian firms.
The ETCs also offer pure-play exposure to underlying assets, with all products fully redeemable for the crypto in question.
ETC Group’s announcement follows hot on the heels of Fidelity launching two exchange-traded products (ETPs) in Switzerland earlier this week. The launches point to the growing demand among investors for products that allow for crypto exposure.
Overall, the market has grown significantly since ETC Group unveiled the world’s first centrally-cleared Bitcoin ETP in June 2020.